Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Microchip Technology Incorporated NASDAQ: MCHP. In a filing disclosed on May 08th, the Representative disclosed that they had bought between $1,001 and $15,000 in Microchip Technology stock on April 8th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT" account.
Representative Robert Bresnahan, Jr. also recently made the following trade(s):
- Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 4/17/2025.
- Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 4/16/2025.
- Sold $1,001 - $15,000 in shares of Western Digital NASDAQ: WDC on 4/11/2025.
- Sold $1,001 - $15,000 in shares of Western Digital NASDAQ: WDC on 4/10/2025.
- Sold $1,001 - $15,000 in shares of DexCom NASDAQ: DXCM on 4/8/2025.
- Sold $1,001 - $15,000 in shares of Invesco NYSE: IVZ on 4/8/2025.
- Sold $1,001 - $15,000 in shares of Generac NYSE: GNRC on 4/8/2025.
- Sold $15,001 - $50,000 in shares of Occidental Petroleum NYSE: OXY on 4/8/2025.
- Sold $15,001 - $50,000 in shares of Pfizer NYSE: PFE on 4/8/2025.
- Sold $1,001 - $15,000 in shares of QUALCOMM NASDAQ: QCOM on 4/8/2025.
Microchip Technology Price Performance
MCHP stock traded up $6.19 during mid-day trading on Friday, hitting $55.33. The company had a trading volume of 21,358,016 shares, compared to its average volume of 8,385,921. The company has a market capitalization of $29.76 billion, a price-to-earnings ratio of 98.80 and a beta of 1.42. The company has a 50-day moving average price of $47.06 and a 200 day moving average price of $56.57. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $100.57.
Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its earnings results on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The firm had revenue of $970.50 million during the quarter, compared to the consensus estimate of $962.86 million. Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. The company's quarterly revenue was down 26.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 EPS. On average, research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.
Microchip Technology Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Thursday, May 22nd. Microchip Technology's dividend payout ratio is currently -18,200.00%.
Institutional Trading of Microchip Technology
A number of institutional investors have recently modified their holdings of the company. Nordea Investment Management AB raised its position in shares of Microchip Technology by 4.9% in the 4th quarter. Nordea Investment Management AB now owns 42,255 shares of the semiconductor company's stock valued at $2,435,000 after purchasing an additional 1,983 shares during the last quarter. InvesTrust acquired a new position in Microchip Technology in the fourth quarter valued at approximately $638,000. First Hawaiian Bank grew its stake in shares of Microchip Technology by 2.4% during the 4th quarter. First Hawaiian Bank now owns 33,053 shares of the semiconductor company's stock worth $1,896,000 after purchasing an additional 780 shares during the period. Watts Gwilliam & Co. LLC increased its holdings in shares of Microchip Technology by 250.5% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 26,861 shares of the semiconductor company's stock valued at $1,544,000 after purchasing an additional 19,198 shares in the last quarter. Finally, ST Germain D J Co. Inc. acquired a new position in shares of Microchip Technology in the 4th quarter valued at $97,000. 91.51% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on MCHP shares. KeyCorp lowered their price objective on Microchip Technology from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Friday, February 7th. Evercore ISI raised their target price on shares of Microchip Technology from $65.00 to $71.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. B. Riley increased their price objective on shares of Microchip Technology from $60.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday. Raymond James boosted their target price on Microchip Technology from $60.00 to $65.00 and gave the company a "strong-buy" rating in a research report on Friday. Finally, Bank of America upgraded Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 price target on the stock in a report on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Microchip Technology has an average rating of "Moderate Buy" and an average price target of $67.42.
Read Our Latest Stock Report on MCHP
Insider Activity at Microchip Technology
In related news, CFO James Eric Bjornholt sold 3,724 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the transaction, the chief financial officer now owns 33,272 shares of the company's stock, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is owned by company insiders.
About Representative Bresnahan
Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.
Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election.
Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.
Microchip Technology Company Profile
(
Get Free Report)
Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.
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